EUR/USD: A persistent bullish movement of 100 pips this week has resulted in a Bullish Confirmation Pattern on this pair. There is an indication of a possible rally on this pair – just as it is on other EUR pairs. From the support line at 1.0800, the pair has reached the resistance line at 1.0900. Some fundamental figures are expected today and they can have impact on the market.
USD/CHF: The USD/CHF pair moved simply sideways on Wednesday, January 27, 2016, while the bullish outlook remains valid. There is an expectation of a strong USD this week or next week, which would fall further northward in this pair. There are resistance levels at 1.0200 and 1.0250, which might be breached soon enough.
GBP/USD: As it was forecasted yesterday, a bullish attempt seen on the cable chart (on Tuesday, January 26, 2016) has proven to be an opportunity to go short in the context of a downtrend. The price moved lower on Wednesday, reinforcing the extant bearish outlook for the market. The accumulation territories of 1.4200 and 1.4150 might be tested today or tomorrow.
USD/JPY: The bullish signal in this market remains valid, though the price has not gone upwards significantly. The price is above the EMA 56 and the RSI period 14 is above the level of 50, which means that there is a high possibility that the price could go further upwards when momentum returns to the market.
EUR/JPY: The EUR/JPY pair has moved upward by 130 pips this week, owing to visible bullish efforts in the market. The bullish effort has enabled the cross to generate a bullish signal in the 4-hour chart, as the price threatens to go above the supply zone at 129.50. In case the supply zone is successfully breached to the upside, the next bullish target will be another supply zone of 130.00.
